Abu Dhabi National Oil Company (Adnoc) is absorbing, embedding and applying cutting edge technology at every step of the production process from oil platforms to trading platforms, said its top official.

"In short, as we enter a new age of technology, the world remains reliant on a 160-year-old industry, whose core mission is to responsibly and efficiently stay ahead of tomorrow’s energy demand. At Adnoc, we call this mission "Oil and Gas 4.0," remarked Adnoc CEO Dr Sultan Al Jaber.

"Oil and Gas 4.0" means rethinking how our industry adopts and applies technology, connects with non-traditional partners, shows environmental leadership and most importantly attracts and retains talent," stated Dr Al Jaber in an article published by "The Telegraph.’.

In the article, he affirmed that oil and gas will remain essential to the global energy mix and the basis for a wide range of modern consumer products.

"As we enter the Fourth Industrial Age, it is clear that this is an era defined by a transformation, not just of technology, but of opportunity. Never before in human history are so many people being raised out of poverty in such a short amount of time," he noted.

"For the first time in history, half the world’s population is now middle class and by 2030 their number will swell to 5.6 billion– two-thirds of the global population. While just over half of humanity lives in a city today, that proportion will climb to almost 70 per cent in the next thirty years," he wrote in the Telegraph article.

That’s 2.5 billion people moving to urban areas, mostly in Asia and Africa. These migrations from non-consumer to consumer and from rural to urban, will drive a growing demand for energy. Dr Al Jaber said: "In short, as we enter a new age of technology, the world remains reliant on a 160-year-old industry, whose core mission is to responsibly and efficiently stay ahead of tomorrow’s energy demand. At Adnoc, we call this mission "Oil and Gas 4.0."

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